Elon Musk, the world’s richest man, has pulled back from the $ 1 million tweet deal. Musk was selling his non-fungible token i.e. NFT through this tweet. It is common for them to sell it because they sit on the throne of the world’s richest person every day. His total assets currently stand at $ 175 billion. On 15 March, Musk tweeted that he is selling his song about NFTs. In the tweet, he also put a two-minute video which was an NFT themed electronic dance music track. The tweet, video and caption were prepared like an NFT cell. In such a situation, an auction was also done for this, where most Sina Estavi bid for it 8.7 crores.
But despite all this, Musk finally changed his decision. In a tweet on March 16, he said that he does not feel anything right about it. This too will pass. According to a CNBC report, Musk did this to distract the attention of his followers. Musk did this to distract attention from Tesla rank and inquiries in US City last week.
I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx
— Elon Musk (@elonmusk) March 15, 2021
What happens to NFTs?
This is a non-fungible token called a cryptographic token. You cannot change this token, nor can you take anything else instead. If someone has NFT, it means that he has unique or antique digital artwork. However, NFT cannot be regulated as they are unique art pieces. You can only use NFTs digitally. That is, you have to buy any goods online.
Musk, the founder of Space X and Tesla, is the latest person to join NFT. Global brands such as Nike and Louis Vuitton are also generating consumer goods and services with the help of NFT.